Peabody Energy Corporation · NYSE:BTU
Peabody Energy — UBS Global Materials Conference September 2025
37 slides from Peabody Energy's conference presentation, Sep 3, 2025
Slide 1: UBS Global Materials Conference September 2025
1 UBS Global Materials Conference September 2025
Slide 2: Important Information
2 Important Information This presentation contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "e
Slide 3: BTU: Compelling Investment Highlights
3 BTU: Compelling Investment Highlights Centurion Mine Highlights Growing Steelmaking Coal Platform Low-Cost Seaborne Thermal Coal Fuels Rising Asian Generation Fortress Balance Sheet and Returning Cash to Shareholders Managing Safe, Productive and Environmentally Sound Operations1 2 3 5 Peabody: Pr
Slide 4: Managing Safe, Productive and Environmentally Sound Operations
Managing Safe, Productive and Environmentally Sound Operations
Slide 5: Peabody Quick Facts
5 Peabody Quick Facts (1) Confidential (1) All statistics are for the year ended December 31, 2024. (2) Total Recordable Incident Frequency Rate (‘TRIFR’) equals recordable incidents per 200,000 hours worked. (3) Adjusted EBITDA is a non-GAAP financial measure. Refer to the definitions and reconcili
Slide 6: 2024: Record Year for Safety and Environmental Performance
6 2024: Record Year for Safety and Environmental Performance 1.1 2.1 2 2.3 2.4 2.8 2.9 3.1 3.1 3.4 4.3 4.5 4.5 5.3 0.81 3.1 P e ab o d y P ro fe ss io n al / B u si n es s Se rv ic es M in in g R e al E st at e C o n st ru ct io n A ll Em p lo ye rs M an u fa ct u ri n g En te rt ai n m e n t & H o
Slide 7: Peabody's Global Diversified Platform Capitalizes on Key Themes
7 Peabody’s Global Diversified Platform Capitalizes on Key Themes Benefitting from global reach, multi-region exposure and non-correlated market movements • Peabody’s low-cost seaborne thermal business serves growing Asia demand centers Seaborne Thermal Coal Demand Growth Driven by Rising Asian Gene
Slide 8: Centurion Mine Highlights Growing Steelmaking Coal Platform
Centurion Mine Highlights Growing Steelmaking Coal Platform
Slide 9: Seaborne Met Coal Markets: Asia Steel Mills Drive Demand
9 Seaborne Met Coal Markets: Asia Steel Mills Drive Demand Source: Company Materials and Wood Mackenzie. Asia Constitutes >100% of Growth in Global Steel Demand in Past Decade India Leads Long-Term Global Growth in Met Coal Imports • Green shoots appearing • China implementing classic “playbook” – R
Slide 10: Centurion Mine Longwall Startup Accelerated to February 2026
10 Centurion Mine Longwall Startup Accelerated to February 2026 • Segment growing in quality and quantity in 2026 • Tier one premium hard coking coal complex utilizing $1+ billion of existing infrastructure • Mine life of 25+ years with ~140 million tons within integrated mine plan • Further weights
Slide 11: Low-Cost Seaborne Thermal Coal Fuels Rising Asian Generation
Low-Cost Seaborne Thermal Coal Fuels Rising Asian Generation
Slide 12: Seaborne Thermal Markets: Fueling Growing Asian Generation
12 Seaborne Thermal Markets: Fueling Growing Asian Generation Sources: IEA Coal Report Dec. 2024; Wood Mackenzie Data Service; McCloskey news reports; Company analysis. • World used 8.77 billion tonnes in 2024; Asia-Pac consumed 85% of global thermal imports • Australia is largest global exporter of
Slide 13: Seaborne Thermal Segment Marked by Low Costs, Strong Margins
13 Seaborne Thermal Segment Marked by Low Costs, Strong Margins $1,654 $174 Seaborne Thermal Adjusted EBITDA (1) Outpaced Investment by 9-1 Margin Segment Adj EBITDA Capital Expenditures Cash Flow: $1,480 million (U S$ in m ill io n s) • Platform delivering high margins throughout the cycle driven b
Slide 14: Leading U.S. Thermal Position Grows With Power Rebound
Leading U.S. Thermal Position Grows With Power Rebound
Slide 15: U.S. Markets: Electricity Demand and Policy Landscape Create Tailwinds for Domestic Coal
15 U.S. Markets: Electricity Demand and Policy Landscape Create Tailwinds for Domestic Coal • U.S. electricity use forecast to reach all time high of 4,186 B kWh • 2026 again expected to set record • Warnings that U.S. reserve margins reaching dangerous lows • Fossil plants shoulder rising load as w
Slide 16: How to Meet the Growing U.S. Generation Needs Through 2030
16 • Renewable buildout doesn’t solve need for reliable 24/7 non-intermittent generation • Many gas plants ordered today unlikely to be placed in service before 2030+ due to backlogs • Additional nuclear generation likely 10 – 15 years away given permitting, financing • Existing U.S. coal capacity f
Slide 17: U.S. Thermal Business Well Positioned, Highly Cash Flowing
17 U.S. Thermal Business Well Positioned, Highly Cash Flowing • Platform generates substantial free cash flow with strong margins and low investments with 9 mines serving U.S. customers in 25 states • PRB 2025 volume guidance raised twice to meet growing demand • 2025 PRB targets of 80 - 84 million
Slide 18: Fortress Balance Sheet and Returning Cash to Shareholders
Fortress Balance Sheet and Returning Cash to Shareholders
Slide 19: Fortress Balance Sheet and Returning Cash to Shareholders
19 Fortress Balance Sheet and Returning Cash to Shareholders • Shareholder-first philosophy – Returning cash to shareholders is a high priority • Framework – Returning Available Free Cash Flow through share repurchases and dividends No Secured Debt $1 Billion of Liquidity Fortress Balance Sheet Free
Slide 20: BTU Offers an Attractive Investment Opportunity
20 BTU Offers an Attractive Investment Opportunity • Peabody is committed to increasing free cash flow per share • Increasing shareholder value via earnings growth (Centurion premium hard coking coal mine Q1 2026 start) and share repurchases • Shares of BTU trade at a sharp discount on a variety of
Slide 21: Appendix
Appendix
Slide 22: 2025 Guidance
22 2025 Guidance Certain forward-looking measures and metrics presented are non-GAAP financial and operating/statistical measures. Due to the volatility and variability of certain items needed to reconcile these measures to their nearest GAAP measure, no reconciliation can be provided without unreas
Slide 23: Average Market Pricing by Quarter
23 Average Market Pricing by Quarter 06/30/2025 03/31/2025 12/31/2024 09/30/2024 06/30/2024 Premium low vol hard coking coal (Premium HCC) (1) $184.22 $185.08 $202.82 $210.67 $242.31 Premium low-vol pulverized coal injection (Premium PCI) coal (1) $137.77 $141.08 $157.59 $174.20 $163.36 Newcastle in
Slide 24: Operations Overview: Seaborne Metallurgical Segment
24 Operations Overview: Seaborne Metallurgical Segment Production is for full year 2024 at share. Reserves reflect estimated proven and probable reserves as of December 31, 2024. Strategic Advantage: Multiple locations and products, positioned to serve Asia Pacific and Atlantic market Metropolitan M
Slide 25: Operations Overview: Seaborne Thermal Segment
25 Operations Overview: Seaborne Thermal Segment Production is for full year 2024 at share. Reserves reflect estimated proven and probable reserves as of December 31, 2024. Strategic Advantage: High margin operations positioned to serve Asia Pacific market Wilpinjong Mine Production: 12.6 million to
Slide 26: Operations Overview: PRB Segment
26 Operations Overview: PRB Segment Production is for full year 2024 at share. Reserves reflect estimated proven and probable reserves as of December 31, 2024. Strategic Advantage: Low-cost operations, largest producer, significant reserves, shared resources, technologies North Antelope Rochelle Min
Slide 27: Operations Overview: Other U.S. Thermal Segment
27 Operations Overview: Other U.S. Thermal Segment Production is for full year 2024 at share. Reserves reflect estimated proven and probable reserves as of December 31, 2024. Strategic Advantage: Located to serve regional customers in high coal utilization regions with competitive cost operations an
Slide 28: Business Segments
28 Business Segments(1) Mines Full Year 2024 Seaborne Metallurgical • Centurion • Shoal Creek • Metropolitan • Coppabella / Moorvale (CMJV) • Tons Sold (millions) • Revenue per Ton • Costs per Ton • Adjusted EBITDA Margin per Ton • Adjusted EBITDA (millions) 7.3 $144.97 $122.77 $22.20 $242.5 Seaborn
Slide 29: Life-Extension Projects
29 Life-Extension Projects Wilpinjong • Stage 1 (Pit 8 extension) will extend a current mining pit but will not change the intensity of mining or total production through to December 2033 with a rehabilitation period going into 2034. Our modified mine plan protects the Cumbo Creek corridor and the R
Slide 30: Opportunities to Create Alternative Value with Existing Assets
30 Opportunities to Create Alternative Value with Existing Assets • Peabody partnering with leading renewable energy supplier RWE to strategically advance renewable energy projects on reclaimed mine land • Brings together RWE’s renewable energy expertise with Peabody’s significant land and reclamati
Slide 31: Sustainability Strategy
31 Sustainability Strategy We strive to be the coal producer of choice. This means maintaining financial strength, delivering a diversity of products to support our customers’ needs, practicing operational excellence and championing sustainability. We believe that good safety, sustainability, human
Slide 32: Centurion Royalties
32 Centurion Royalties • Centurion is subject to the Queensland Government Royalty charged on total revenue. Queensland Government royalties are based on coal prices per tonne (in $A). • Centurion South is subject to a special private royalty agreement established in relation to the sale of the prop
Slide 33: Reconciliation of Non-GAAP Measures
33 Reconciliation of Non-GAAP Measures Note: Refer to definitions and footnotes on slides 36 Year Ended Dec. 31, 2024 Tons Sold (In Millions) Seaborne Thermal 16.4 Seaborne Metallurgical 7.3 Powder River Basin 79.6 Other U.S. Thermal 14.6 Total U.S. Thermal 94.2 Corporate and Other 0.1 Total 118.0 R
Slide 34: Reconciliation of Non-GAAP Measures
34 Reconciliation of Non-GAAP Measures Note: Refer to definitions and footnotes on slides 36 Year Ended Year Ended Year Ended Years Ended Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2022 - Dec. 31 2024 Adjusted EBITDA (In Millions) (2) Seaborne Thermal $ 647.6 $ 576.8 $ 430.0 $ 1,654.4 Seabor
Slide 35: Reconciliation of Non-GAAP Measures
35 Reconciliation of Non-GAAP Measures Note: Refer to definitions and footnotes on slides 36 Year Ended Year Ended Year Ended Years Ended Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2022 - Dec. 31 2024 Reconciliation of Non-GAAP Financial Measures (In Millions) Income from Continuing Operatio
Slide 36: Reconciliation of Non-GAAP Measures
36 Reconciliation of Non-GAAP Measures Note: Management believes that non-GAAP measures are used by investors to measure our operating performance. These measures are not intended to serve as alternatives to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures pre
Slide 37: Investor Relations Contact
2 37 Investor Relations Contact: Vic Svec / Kala Finklang ir@peabodyenergy.com
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